Digos City investment code to be amended

DIGOS City is looking into amending its local investment and incentive code to include a provision on providing assistance to businesses affected by natural disasters, an official said.

Department of Trade and Industry (DTI) Davao del Sur Provincial Director Delia Ayano, in a recent interview with Sun Star Davao, said they reviewed the code recenlty with the Investment Promotion Board of Digos and found that there are areas that need to be amended, among of which is the inclusion of a provision for investors and micro, small, and medium enterprises (MSMEs) that were affected by natural calamities.

"Investors and MSMEs that were affected by calamities must also be given an incentive like an exemption in paying real property tax," she said.

She said the provision to assist MSMEs who were affected by natural calamities is among the changes they want to include in the amendment of the Digos City's investment and incentive code.

Ayano said the provision will only be for existing investors. However, details on the provision are still being ironed out.

"We find it neccessary because when a fire broke out in one of the areas in Digos City, there were existing investors who came to DTI and asked for assistance," she said, adding that the assistance DTI was able to give that time were trainings and consultations on business continuity and planning, among others.

Ayano said the Digos City Investment Promotion Board is set to convene soon to further discuss the amendment of the local investment and incentive code. RJL